American newspaper focused on business and finance
President Trump has accepted a $400m Boeing 747-8 donated by Qatar and has begun flying on it, but during a July NATO trip he has used an older Air Force One for part of the return because officials raised security concerns. The administration has opened a leak inquiry and the FBI has subpoenaed New York Times reporters, while the White House defends the new jet.
OpenAI, Anthropic and other AI leaders are navigating intensified security and regulatory pressures as threats target executives and data centers. Investors are watching for how policy and open-source trends shape the AI landscape.
The Times and other outlets face grand-jury subpoenas in New York as the Justice Department steps up investigations into leaks tied to the Trump administration’s security concerns over a Qatar-donated Air Force One. The government says reporters are not targets, while outlets argue the measures threaten First Amendment rights.
The U.S. Department of Justice has approved Paramount Skydance’s proposed acquisition of Warner Bros. Discovery after an eight‑month probe, concluding the merger is unlikely to harm competition in streaming, linear TV or theatrical film markets. The transaction still faces reviews by U.K. and EU regulators and possible lawsuits from state attorneys general.
A coalition of U.S. state attorneys general has subpoenaed OpenAI for internal documents on advertising, user engagement, handling of health and consumer data, and protections for minors and seniors. OpenAI has said it will "engage constructively," highlighted new safeguards in ChatGPT and is cooperating with investigators while facing related lawsuits and regulatory pressure.
Anthropic has faced export-control action that blocks access to its Mythos 5 and Fable 5 models for foreign nationals. Governments cite national security; industry weighs safety, regulation, and global impact as the dispute unfolds with talks between Anthropic and the White House.
Micron has reported blockbuster fiscal third-quarter results — $41.46bn revenue and $28.24bn net income — and has forecast roughly $50bn for the current quarter. The results have pushed Micron above a $1tn market value, restarted buying in memory stocks and have sharpened concerns that soaring AI data‑centre demand is forcing consumer electronics makers, including Apple, to prepare price increases.
Executives are leaving top AI labs for rivals, highlighting a talent war as Google loses senior researchers to Anthropic and OpenAI. The exits come as industry leaders push for faster AI deployment and policy alignment, with investors watching margins amid heavy AI compute spending.
Developments from Haberman and Swan's Regime Change reveal ongoing clashes over Rose Garden redesigns and other White House decor, with staffers caught between two Trumps as Melania and Donald pursue starkly different visions. The book also details Musk’s overnight stays and other high-profile interruptions to White House life.
Belarus and Russia are facing heightened tensions as Zelenskiy demands Belarus remove equipment used by Russia; Minsk has not committed to joining the war, while Kyiv warns of further actions if Belarus does not comply. The situation on Belarus’ border and its role in Russia’s war remain central as diplomats push for restraint.
Federal student‑loan regulations have changed this week under the One Big Beautiful Bill and court rulings. The Education Department has rolled out new repayment plans, temporary interest‑rate cuts for autopay enrollees, and lifetime borrowing caps for graduate and professional students, while a federal judge has paused the department's narrowed definition of "professional degree," temporarily preserving wider borrowing access for many advanced‑health and other programs. Notices are going out to millions of borrowers who must pick new plans.
Reflection AI has inked a multiyear deal with SpaceX to access Nvidia GB300 AI chips and related hardware at SpaceX’s Colossus 2 data center in Memphis. The pact, valued at up to $6.3 billion if extended through 2029, begins July 2026 and can be terminated by either side with 90 days’ notice after three months. The arrangement positions Reflection among providers of frontier AI infrastructure as it pursues open-weight models.
The U.S. has concluded its hantavirus response tied to the MV Hondius outbreak. The 42‑day monitoring period for Americans is finished with no sustained transmission detected. Debates center on the use of strict federal quarantine orders and individual rights during public-health crises.
A federal crackdown targets healthcare fraud across the United States. More than 450 defendants, including doctors, nurses and clinic owners, are charged in schemes that falsified records, billed for unrendered or unnecessary care, and laundered funds. Several defendants have faced seizures and high-value assets, with charges spanning Medicare and TRICARE programs.
The Trump administration has withdrawn subpoenas targeting Washington Post and Wall Street Journal reporters amid a broader crackdown on leaks. While officials say investigations into classified disclosures continue, critics warn the move signals aggressive government pressure on press freedom. The Justice Department reaffirmed that reporters are not targets, even as it backs investigations.
Congress has passed the 21st Century ROAD to Housing Act with overwhelming bipartisan majorities to speed construction, restrict corporate buyers and ease federal rules. President Donald Trump has cancelled a planned signing and said he will not sign until Congress passes voter ID and other measures in his proposed SAVE America Act, leaving the legislation’s enactment uncertain.
NATO leaders have met in Ankara after months of U.S. threats to scale back forces in Europe and repeated U.S. demands that allies raise defence spending to 5% of GDP by 2035. Tensions over the U.S.-Israeli war on Iran and U.S. troop reviews have strained transatlantic ties, while European governments are increasing procurement and planning to assume more conventional defence responsibilities.
The world’s richest person has seen his fortune swing wildly after SpaceX’s IPO. SpaceX and Tesla shares have fallen amid a broader tech sell-off, eroding Musk’s trillionaire status. Despite volatility, he remains the wealthiest individual as markets reassess growth prospects in AI and tech.
Major device makers have raised prices and warned consumers after memory and storage costs have surged because AI data‑centre buildouts are buying up DRAM and flash. Apple has increased Mac and iPad prices; Microsoft, Sony and Nintendo have signalled or implemented console and hardware hikes. Analysts say shortages will persist into 2027.
Prices for Xbox consoles and various Apple devices have surged as AI-driven demand strains memory and storage components, pushing manufacturers to raise prices by hundreds of dollars. The trend affects consumers globally as memory costs double and memory shortages loom. The changes come as several publishers report price increases from Microsoft, Apple and others amid an AI infrastructure boom.
Oil prices have extended declines as tanker exits from the Strait of Hormuz ease supply fears, even as a vessel is attacked in the Gulf of Oman. Brent trades near $72.76 a barrel and WTI around $69.84, with markets watchful of US-Iran tensions and ongoing evacuation plans by the IMO.
France 24 reports that DR Congo has advanced to the World Cup knockout stage for the first time, following a 3-1 win over Uzbekistan. England tops Group L after a win over Panama; Belgium faces Senegal; US advances to the Round of 16 with favorable simulations.
Vessel transits through the Strait of Hormuz have risen this week amid shifting navigation guidance and ongoing tensions between Iran, the U.S., and Oman. Observers report mixed routes with a northern Iranian corridor and a southern Omani corridor, while the broader risk to shipping remains elevated.
The deal to access Iranian frozen funds via a US-controlled mechanism is evolving. Washington has proposed incremental payouts while Tehran demands autonomy over the funds, with Qatar hosting discussions and envoys in play. The White House seeks to delay broader commitments as lawmakers scrutinise costs and oversight.
The SAVE income-driven repayment plan has ended and servicers have begun notifying roughly 7–7.5 million borrowers that they have 90 days from their notice to choose a replacement. New Department of Education rules that took effect on July 1 have created a Repayment Assistance Plan and a Tiered Standard plan, tightened graduate and Parent PLUS borrowing caps, and added a temporary autopay interest discount.
Buffett has postponed his annual Berkshire Hathaway stock donation to the Gates Foundation while awaiting the outcomes of an external review into past ties between the foundation and Jeffrey Epstein. The Gates Foundation has engaged WilmerHale for the probe, and findings are expected this summer; Buffett’s decision may align with the review’s results and the broader scrutiny surrounding Bill Gates.
Iran has maintained indirect talks with the United States via mediators in Doha, as both sides pursue a ceasefire extension and wider settlement. Officials say progress is limited, with key issues including the Strait of Hormuz, frozen assets, and Iran’s nuclear programme continuing to complicate negotiations. Oil prices have fallen as optimism grows about delaying further conflict.
The Scotland 500 shows private equity now owns nearly 60% of listed Scottish firms, underscoring international investor interest in Scotland’s traditional sectors evolving into high-growth businesses. Origo and Vespa Capital are highlighted as unicorn ambitions, while BR-DGE expands beyond gaming to enterprise payments.
British American Tobacco is cutting about 5,500 jobs and outsourcing 3,500 more as it shifts toward vaping, nicotine pouches and digital operations. The company says the savings target is about 600 million pounds annually by 2028, with the US not affected. The cuts come as it faces slower cigarette sales and rising regulatory and tax pressures in various markets.
The US and Iran are pursuing diplomatic channels while monitoring the risk of renewed conflict. Indirect negotiations in Doha are ongoing, with Washington exploring options beyond the 60-day deadline. Officials emphasize that energy routes remain a focal point as talks continue.
Tensions escalate between Washington and Riyadh after Saudi Arabia blocks U.S. use of its bases and airspace for Project Freedom, prompting a rethink of the U.S. Gulf military footprint even as officials insist the partnership remains strong.
The Times of Israel, Axios, Al Jazeera and other outlets report on a forthcoming White House meeting between Netanyahu and Trump, as they reaffirm shared goals on Iran. Trump has publicly asserted control over talks while Netanyahu emphasizes a strong US-Israel alliance. A NATO summit and ongoing ceasefire negotiations frame the context for possible joint actions and strategy.
The United States has carried out strikes on Iranian targets near the Strait of Hormuz in response to a drone attack on a Panama-flagged tanker. Iran has retaliated with missiles and drones against U.S. bases in Kuwait and Bahrain as indirect talks continue in Doha. A 60-day truce signed mid-June is nearing expiration, with no substantive progress on key issues.
JPMorgan has been ordered to continue advancing Javice’s legal fees as the Delaware court rules the bank did not prove the fees were unmistakably unreasonable. Javice faces a seven-year prison sentence and a multi-million-dollar restitution order from her conviction for defrauding JPMorgan in the Frank deal.
Brands have mobilised around Taylor Swift and Travis Kelce’s Madison Square Garden wedding, turning the moment into marketing opportunities. The White House has responded with a parody about Trump, while other outlets highlight the celebrity event’s cultural footprint.
Several days of crypto-driven turmoil surrounding Donald Trump’s World Liberty Financial ventures have left nearly 1 million investors in the red, wiping out about $3.8 billion by the end of June. The president’s disclosed $636 million crypto payout in 2025 underscores the scale of the meme-coin saga and its fallout for ordinary buyers.
The latest updates show a widening gap between President Trump’s crypto push and investor outcomes. Strategy has sold Bitcoin, the Trump-backed memecoin plummets from its peak, and Trump Accounts are live but unclear in impact. Regulators and markets are reacting as billion-dollar losses mount for ordinary buyers.
Graham Platner has withdrawn from the Maine Senate race after a former girlfriend accused him of sexual assault. He denies the allegations, saying the decision is about protecting campaigns from power structures. The Maine Democratic Party must nominate a replacement before the July 27 deadline as it races to defend Susan Collins in November.
Walmart has announced price cuts on summer barbecue essentials, including ground beef, chips and drinks, with a 12% drop on a one-pound beef patty. The move follows White House pressure claims and comes as beef prices hit record highs due to drought and rising feed costs. Trump has praised the retailer, while the White House says it is taking steps to reduce costs for working families.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
The Pfizer-era office tower at 235 East 42nd Street is stabilized after beams buckled on the 21st floor. Evacuations have ended as investigators assess what caused the failure and how to prevent a collapse during the largest office-to-residential conversion in New York City.
Airbnb has purchased its first Manhattan office, a six‑story 42,500‑sq‑ft Beaux‑Arts building at 281 Park Avenue South for $81.5 million. The move accompanies a long-running clash with New York City over Local Law 18 restrictions on short-term rentals and signals a deeper commitment to the city with an employee hub for 600+ staff in the region.
Investigations have begun into the Midtown East building after columns buckled and bricks fell, triggering evacuations and a criminal inquiry. Inspections target firms connected to the 42nd Street conversion project and its safety practices.
Netflix is expanding its strategy to boost engagement by exploring always-on live channels, launching publisher deals for short-form video, and considering free-tier content as it intensifies competition with YouTube, Disney, and others. Analysts expect continued emphasis on ad-supported revenue and content diversification.
Apple has filed a federal lawsuit accusing OpenAI, its hardware arm io Products and two former Apple engineers of misappropriating confidential hardware designs, supplier details and manufacturing techniques to speed OpenAI’s push into consumer devices. Apple has asked the court for injunctions, return of materials and unspecified damages.
Luis Manuel Otero Alcántara has arrived in Miami after a five-year prison sentence in Cuba. The exile follows a U.S. parole grant and mounting diplomatic pressure. He is the cofounder of the San Isidro Movement, whose members have faced persistent repression in Cuba.
The US president has warned Iran of decimation if it acts on threats to target him, while tensions spike over the Strait of Hormuz. Mediators are pressing for renewed talks as both sides escalate rhetoric amid a fragile truce and international mediation efforts.
Federal subpoenas have compelled several New York Times journalists to appear before a Manhattan grand jury over reporting on security weaknesses in the Qatari-donated Air Force One. The subpoenas were signed by U.S. Attorney Jay Clayton and follow an FBI review; the Times says the move threatens press freedom and vows to fight the orders in court.
Michael Burry has built positions in Flutter and DraftKings, arguing regulation and taxation will force prediction markets to fit under broader rules. He says the market is in a regulatory loophole and will be subsumed by tighter oversight as enforcement rises.
The United States has launched a broad campaign to isolate the International Criminal Court, aiming to weaken its authority and deter investigations involving American personnel. Rubio argues the ICC threatens U.S. sovereignty, while allies face pressure to withdraw or face penalties. Several ICC officials have already faced sanctions.